Chemed (NYSE:CHE) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Chemed (NYSE:CHE) from a buy rating to a hold rating in a research note published on Friday.

Separately, Royal Bank of Canada decreased their target price on shares of Chemed from $697.00 to $633.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Chemed Price Performance

NYSE:CHE opened at $572.18 on Friday. The company’s 50-day moving average is $579.08 and its two-hundred day moving average is $565.00. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 2.42 and a beta of 0.46. Chemed has a 1-year low of $523.33 and a 1-year high of $654.62.

Chemed (NYSE:CHE) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.64 earnings per share for the quarter, missing the consensus estimate of $5.76 by ($0.12). Chemed had a return on equity of 27.86% and a net margin of 12.69%. The business had revenue of $606.18 million during the quarter, compared to analysts’ expectations of $612.22 million. During the same quarter in the previous year, the company posted $5.32 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. As a group, equities analysts anticipate that Chemed will post 21.43 earnings per share for the current fiscal year.

Chemed Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Monday, November 18th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, November 18th. This represents a $2.00 annualized dividend and a dividend yield of 0.35%. Chemed’s dividend payout ratio is currently 10.11%.

Insider Activity

In related news, Director George J. Walsh III sold 400 shares of Chemed stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $597.47, for a total value of $238,988.00. Following the completion of the transaction, the director now owns 3,046 shares in the company, valued at approximately $1,819,893.62. The trade was a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Mcnamara sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $598.81, for a total transaction of $1,197,620.00. Following the sale, the chief executive officer now directly owns 103,735 shares in the company, valued at approximately $62,117,555.35. The trade was a 1.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,113 shares of company stock valued at $2,411,905. 3.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Second Line Capital LLC lifted its stake in Chemed by 17.1% in the third quarter. Second Line Capital LLC now owns 4,597 shares of the company’s stock worth $2,763,000 after acquiring an additional 672 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Chemed by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 335,443 shares of the company’s stock valued at $201,820,000 after purchasing an additional 15,791 shares in the last quarter. Vestcor Inc lifted its position in shares of Chemed by 35.4% during the 3rd quarter. Vestcor Inc now owns 4,351 shares of the company’s stock worth $2,615,000 after purchasing an additional 1,138 shares during the last quarter. Cape Cod Five Cents Savings Bank boosted its position in shares of Chemed by 2.6% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 6,439 shares of the company’s stock worth $3,870,000 after acquiring an additional 162 shares in the last quarter. Finally, MML Investors Services LLC increased its stake in Chemed by 3.9% in the third quarter. MML Investors Services LLC now owns 1,457 shares of the company’s stock valued at $876,000 after purchasing an additional 55 shares during the last quarter. 95.85% of the stock is currently owned by hedge funds and other institutional investors.

About Chemed

Chemed Corporation provides hospice and palliative care services to patients through a network of physicians, registered nurses, home health aides, social workers, clergy, and volunteers primarily in the United States. The company operates in VITAS and Roto-Rooter segments. It offers plumbing, drain cleaning, excavation, water restoration, and other related services to residential and commercial customers through company-owned branches, independent contractors, and franchisees.